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Tata Communications on Tuesday said Liquid Telecom, a privately-owned, pan-Africa telecom group, majority owned by Econet Wireless Global, has entered into an agreement to acquire its subsidiary Neotel for South African Rand 6.55 billion (Rs 2,904 crore).
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India`s Tata Communications Ltd is looking for another buyer for its South African fixed-line subsidiary Neotel after a deal with Vodacom Group Ltd fell through, Chief Executive Vinod Kumar said on Wednesday.
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Tata Communications on Friday said it has submitted documents for the restructured transaction for selling majority stake in its subsidiary Neotel's fixed line assets to Vodafone's South Africa subsidiary, Vodacom.
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South Africa's telecom industry has locked horns with the regulator of communications over its approval of the sale of Tata-led company Neotel to the country's biggest mobile operator Vodacom.
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